2007-10-12 07:06:59 · 10 answers · asked by luvmybabies 3 in Business & Finance ➔ Renting & Real Estate
100%
When one purchases a property part of the process is a title search. What this entails is checking relevant records for any liens on the property (mortgage or court-ordered). If any liens exist than they are paid off first as soon as the purchase money is made available. Can't be escaped; the title cannot change hands without satisfying that lien.
2007-10-12 07:14:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
In most states the primary lien holder (your first mortgage) gets first dibs and if there is anything left over it goes to subsequent lien holders. If the home is worth less than what you owe, your first mortgage holder will recover as much as can but everyone else gets nothing. In some states lenders can actually come after you for the difference of $150K after they have foreclosed on the house.
2016-05-22 02:28:49 · answer #2 · answered by cammie 3 · 0⤊ 0⤋
It depend on if you had a right to place the lien in the first place. If it is a legal lien then the odds are good.
2007-10-12 07:10:20 · answer #3 · answered by Landlord 7 · 0⤊ 0⤋
Pretty Good if you handle it correctly. Court is the best way. You'll either get the goods or get the money! I'd say the odds are 80% or better in your favor.
2007-10-12 07:09:50 · answer #4 · answered by char__c is a good cooker 7 · 0⤊ 1⤋
Odds are cruddy cause you have to wait until the house is sold, could be 60 years
Meg
2007-10-12 07:10:12 · answer #5 · answered by Anonymous · 1⤊ 0⤋
odds are good only if the person is up for a refinance or a sale of the property... otherwise it is better to file suite to get u money back.
2007-10-12 07:10:03 · answer #6 · answered by SUPER WOMAN! 2 · 2⤊ 0⤋
can you place the lien on their drivers license? see if thats on option
2007-10-12 08:15:29 · answer #7 · answered by ? 3 · 0⤊ 0⤋
You will either get the money or auction the property to settle the debt
2007-10-12 07:10:21 · answer #8 · answered by Anonymous · 0⤊ 0⤋
odds are good.... bc they cant sell it till the lien is paid
2007-10-12 07:09:09 · answer #9 · answered by Anonymous · 1⤊ 1⤋
You may get the money, but it may take awhile before you see it!
2007-10-12 07:10:48 · answer #10 · answered by Anonymous · 0⤊ 0⤋